What is the future value of $25,000 invested today for the next 22 years if the interest rate is 17.5 percent?
A)$200,200.87
B)$868,506.50
C)$1,200,000.45
D)$1,250,000.54
E)None of the above.

Question

Quizplus · Accepted Answer

The future value is calculated using the formula FV = PV * (1 + r)^n, where PV is the present value ($25,000), r is the interest rate (0.175), and n is the number of years (22). Plugging in these values gives FV = $25,000 * (1 + 0.175)^22 = $868,506.50.

What Is the Future Value of $25,000 Invested Today for the Next